This Hidden Detail Could Propel Bitcoin Even Higher

In a resounding statement, Cathie Wood, CEO of ARK Invest, highlights the untapped potential of bitcoin despite its recent historic crossing of $100,000. The finance visionary compares the meteoric trajectory of crypto to that of giants like Apple and Amazon, suggesting that the best is yet to come.

Cathie Wood compares Bitcoin to Amazon and Apple after its historic crossing

On December 5, 2024, bitcoin crossed the symbolic threshold of $100,000, achieving a market capitalization of $2 trillion in just 16 years of existence. This performance is all the more remarkable as it surpasses the expansion pace of iconic companies: Apple took 42 years to reach this level of capitalization, while Amazon achieved it in 29 years.

Currently, with a valuation of $102,750, bitcoin dominates 52.6% of the crypto market, whose total capitalization stands at $3.9 trillion.

The U.S. political context reinforces this positive dynamic, notably with the announced appointment of Paul Atkins, crypto-friendly, to succeed Gary Gensler as head of the SEC. This new regulatory direction, coupled with the recognition of Bitcoin as “digital gold” by Jerome Powell, chairman of the Federal Reserve, consolidates the institutional legitimacy of crypto.

An ecosystem in full transformation

« Long-term forecasts suggest new historic peaks on the horizon for 2025 before altcoins regain investor attention. Despite these optimistic scenarios, the inherent volatility of the cryptocurrency market cannot be overlooked. Investors are advised to remain vigilant and prepared for potential corrections », observes Ryan Lee, Chief Analyst at Bitget Research. Analysts are now closely monitoring the next resistance levels, set at $150,000 and $200,000.

For Cathie Wood, bitcoin still holds immense growth potential compared to the physical gold market, valued at $15 trillion. “Bitcoin is a much bigger idea than gold,” she claims, thus underscoring the digital and cross-border nature of the asset. This ambitious vision translates into a bold prediction: a BTC at $1 million by 2030.

Danny Chong, co-founder of Tranchess, supports this optimistic perspective by highlighting the crucial role of traditional financial institutions. “The proliferation of institutions like BlackRock, Fidelity, Grayscale, combined with the launch of Bitcoin ETFs in 2024, has paved the way for this major evolution,” he explains.

In summary, the growing adoption by institutional investors and the progressive recognition of Bitcoin as a legitimate asset class seem to confirm Cathie Wood’s optimistic forecasts. This milestone of $100,000 may well be just a stopover on the way to even more dizzying heights.